Retirement plan

SUTTER MEDICAL GROUP 401(K) PROFIT SHARING PLAN

Name: SUTTER MEDICAL GROUP, INC. - SUTTER MEDICAL GROUP 401(K) PROFIT SHARING PLAN (2023) Form 5500
Creator: SUTTER MEDICAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUTTER MEDICAL GROUP 401(K) PROFIT SHARING PLAN, SUTTER MEDICAL GROUP, INC.

SUTTER MEDICAL GROUP, INC.EIN 68-0002401Plan #004PY 2023

2700 GATEWAY OAKS DRIVE, SUITE 2200 - SACRAMENTO, CA 95833916-887-7141LinkedIn501-1000 employeeshospital & health care

Prospect flagsHigh assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$887M

+19.1% from 2022

Total participants

1,364

-0.4% from 2022

Average account balance

$661,921

+14.6% from 2022

Annual return

19.40%

+38.60 pp from 2022

Benchmarks

See 1,406 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants1,000-4,999

Cohort1,406 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.05B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$703K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

1,493

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$63.12M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$51K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.50%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$140

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
ASCENSUS LLC6 years Filed as: ASCENSUS, LLC Service code 49 · EIN 82-3719843	Other Services	$270,963
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$151,541
NWK GROUP, INC.9+ years Filed as: NWK GROUP Service code 27 · EIN 20-2154904	Advisory (Plan)	$50,000
GEMMER ASSET MANAGEMENT2 years Filed as: GEMMER ASSEST MANAGEMENT LLC Service code 16 · EIN 94-3317854	Consulting	$16,133
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	-$310,660

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

3 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$356K

$338 / participant

Investment mgmt$152K42.5%
Contract admin$6000.2%
Other / not subdivided$204K57.3%

% of EOY assets

0.040%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$661,921

$50,151+1219.9%

$149,696+342.2%

$80,157+725.8%

Participation rate

97.7%

64.3%+33.4pp

78.8%+19.0pp

72.9%+24.8pp

Annual return

19.40%

29.80%-10.4pp

134.46%-115.1pp

40.39%-21.0pp

Employer contribution / active EE

$30,954

$1,867+1558.1%

$4,821+542.1%

$2,977+939.6%

Participant deferral / active EE

$20,977

$3,194+556.7%

$5,682+269.2%

$5,015+318.3%

Admin fee / account holder

$266

$153+74.2%

$13,212-98.0%

$145+83.5%

Provider

Service type

Compensation

ASCENSUS LLC6 years

Filed as: ASCENSUS, LLC

Service code 49 · EIN 82-3719843

Other Services

$270,963

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$151,541

NWK GROUP, INC.9+ years

Filed as: NWK GROUP

Service code 27 · EIN 20-2154904

Advisory (Plan)

$50,000

GEMMER ASSET MANAGEMENT2 years

Filed as: GEMMER ASSEST MANAGEMENT LLC

Service code 16 · EIN 94-3317854

Consulting

$16,133

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$310,660

SUTTER MEDICAL GROUP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUTTER MEDICAL GROUP 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion